1. Lapse Guidelines for Fiscal Year End Balances

2. Lapse Guidelines – Educational & General Funds (14 – Accounts)
Deficits not cleared prior to year end will be cleared during the lapse process.
Most E & G budget balances lapse at fiscal year end and are allocated:
50% to appropriate VP’s Reserve Fund
50% for deferred maintenance

3. E & G Funds (14 – Accounts) Exceptions to Lapse Guidelines
The following E&G balances are not subject to
lapse (carry forward 100%):
President/Vice President Reserve Accounts
GIT Accounts
Lab Fee Accounts
Research Development & Special Item Appropriations (to the amount in the GAA)
Facilities & Administration (F & A) 14-7 accounts with balances from FY 2007 (no transfers in to these accounts!)
Balances under $100 will be swept to Dean / VP account

4. Lapse Guidelines (19 – Accounts) Designated Funds
Deficits not cleared prior to year end will be cleared during the lapse process.
M & O 19-7 accounts will lapse at fiscal year end and are allocated:
50% to VP’s Reserve Fund
50% for Deferred Maintenance

5. Designated Funds (19 – Accounts) Exceptions to Lapse Guidelines
The following Designated 19- Accounts are
not subject to lapse (carry forward 100%):
Most 19- accounts sourced from fees - other than 19-7
19-79 Graduate Program Support
Official Occasions Accounts
Facilities & Administration (F & A) 19-8 accounts -
F&A balances under $100 will be swept to Dean / VP Account

6. Designated Funds (19 – Accounts) Lapse Restrictions
Transfers from an account that will lapse to an account that does not lapse may be disallowed
Detailed explanations are required
Questionable transfers subject to approval by AVP-Financial Affairs
No exceptions.

7. Lapse Guidelines – Service Centers (18- Accounts)
Not subject to lapse (carry forward 100%)
Any Surplus/Deficit exceeding 10% requires special exception and approval of AVP-Financial Affairs or University Controller
Subject to new Service Center policy for compliance with OMB Circular A-21.
Contact Carol Hollingsworth with questions at x4229

8. Lapse Guidelines – Other Fund Groups
Year end balances in the following funds are not subject to lapse (carry forward 100%)
Grant and Contracts (26 Accounts)
Auxiliary Enterprise (29 Accounts)
Gift/Restricted Funds (30 Accounts)
Plant Funds (36 Accounts)